The shekel is strengthening against the dollar and weakening against the euro today with the shekel-dollar exchange rate slipping below the key NIS 3.50/$ threshold.
In morning inter-bank trading, the shekel-dollar exchange rate was down 0.37% from yesterday's representative rate at NIS 3.499/$, and up 0.42% against the euro at 4.179/€.
Yesterday, the Bank of Israel set the shekel-dollar representative rate up 0.028% on Friday at NIS 3.513/$ from Thursday's rate and set the shekel-euro rate up 0.077% at 4.164/€.
On world forex markets, the dollar has sunk to a new two month low against the euro, following positive data about the German economy and optimism about renewed coalition talks for the Angela Merkel led government. In contrast, the minutes of the US Federal reserve meeting earlier this month expressed concern about recent weak US economic data.
The shekel, however, remains strong after Israel's far better than expected third quarter growth data, which showed GDP growing at 4.1% on an annualized basis.
Published by Globes [online], Israel business news - www.globes-online.com - on November 27, 2017
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